The European Council has backed a proposal to delay the introduction of new laws on the distribution of insurance products until October 1 2018.
In a statement, EU ambassadors on behalf of the Council said that the delay would "enable the insurance industry to better prepare for the directive and for the changes necessary to comply with implementing rules".
Earlier this month, the UK Treasury and Financial Conduct Authority (FCA) announced that they would not bring their own rules for transposing the IDD into UK law into force until a final decision is made on the Commission's proposal.
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